Comprehensive regulations can address challenges such as the safety and security of the users and bring the unorganised entities within the regulatory ambit
While US laws classify fantasy sports as a 'game of skill', Germany and Australia have established specific parameters to distinguish games of skill such as fantasy from chance-based games
India needs to develop a comprehensive and coherent framework that balances consumer protection, industry growth, and regional diversity
The iGaming industry, encompassing online gambling, gaming, and betting, has grown significantly in India and globally. According to the Indian Gaming Report, 2024 this growth is measurable not only in terms of revenues but also through the rising number of gamers (~455 Mn in 2023), 1400 gaming companies, 500 gaming studios and increased job opportunities within the gaming landscape.
Around the world, governments are pacing to regulate this burgeoning sector to balance industry growth and responsible gaming. The rapid rise of the online gaming industry has pushed jurisdictions to provide a robust regulatory framework to address dynamic challenges within the sector.